Amir Yaron

Professor Amir Yaron is the Robert Morris Professor of Banking, Professor of Finance at The Wharton School, University of Pennsylvania. Professor Yaron received his Ph.D. in economics from the University of Chicago, and his B.A. and M.A. in economics from Tel‐Aviv University. He was the Co‐ Editor of the Review of Asset Pricing Studies, Associate Editor of Quantitative Economics and Financial Research Letters, and serves on the Advisory Board of the Journal of Monetary Economics Carnegie‐NYU‐Rochester Conference Series on Public Policy, and currently is the President of the Foundation for the Advancement of Research in Financial Economics (FARFE). At the National Bureau of Economic Research (NBER), he is a research associate in the Asset Pricing group and also co‐heads the Capital Markets & Economy group. Professor Yaron’s research interests span asset pricing, macro-finance, financial econometrics, and household finance. His research is published in leading journals including the Journal of Political Economy, the Review of Financial Studies, the American Economic Review, and the Journal of Finance, where his paper “Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles,” won the 2004 Smith Breeden Distinguished Paper Award. The Bansal-Yaron model of Long Run Risks is one of the leading asset pricing models and has been surveyed in the 2013 Nobel scientific document and cited as "has been quite influential and has led to a number of follow-up studies." In 2008, his paper “Sources of Lifetime Inequality” won The Geewax, Terker, & Company First Prize in Investment Research. Professor Yaron teaching expertise/focus is in the areas of investment and asset pricing, international investments, and multinational firms. Many of his Ph.D. students have been placed at leading academic institutions and in the risk management industry. Professor Yaron has been a visiting scholar in the Federal Reserve Bank in Philadelphia, Bank of Israel, CEMFI-Spain, IIES-Sweden, Goethe University, the IMF, IIES, MIT, and University of Chicago.

Education

PhD, University of Chicago, 1994; MA, University of Chicago, 1991; MA, TelAviv University, 1988; BA, TelAviv University, 1985

Career and Recent Professional Awards; Teaching Awards

2004 Smith Breeden Award for Distinguished Papers; Alfred Sloan Dissertation Fellowship, 1994

Academic Positions Held

Wharton: 1997present (named Robert Morris Professor of Banking, 2009; named Gilbert and Shelly Harrison Term Associate Professor, 20082009). Previous appointments: Carnegie Mellon University

Other Positions

Visiting Scholar, Institute for International Economic Studies, Stockholm University, June 1996, 2003; Summer Intern, Research Department, International Monetary Fund, 1993; Unit Head, The Financial Advisor to the Chief of Staff, Israel Defense Foreces, 198589